Eurostat, the statistical office of the European Union (EU), reported on
Monday that construction output in the Eurozone plunged 2.5 percent m-o-m in
December 2022 after an upwardly revised 0.1 percent m-o-m fall (from -0.8
percent m-o-m) in November. On a y-o-y basis, construction output dropped 1.3
percent in December, following an upwardly revised 1.6 percent rise in the
previous month. That was the first annual decline since August 2021 (-2.3
percent y-o-y).
According to the report, the annual decline in December reflected a 1.5
percent decline in civil engineering construction output and a 1.3 percent drop in
building construction.
For the year 2022, the annual average production in construction in the euro
area increased by 2.3 percent y-o-y.